Minimum Financial Commitment definition

Minimum Financial Commitment has the meaning ascribed to it in Clause 7.3(a);
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Minimum Financial Commitment has the meaning given to it in the PSCs;
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Minimum Financial Commitment has the meaning ascribed to it in Clause 7.3(a); "Minimum Work Obligations" has the meaning ascribed to it in Clause 7.2; "National Petroleum Account" means the account established in accordance with the Oil Revenue Law; "National Petroleum Agency" or "Agência Nacional do Petróleo" means the State regulatory agency established by the Government Decree-Law 5/2004 of the 30th of June, which is responsible for the regulation and supervision of Petroleum Operations or any agency which succeeds the National Petroleum Agency with respect to some or all of its powers; "Natural Gas" or “Gas” means all gaseous hydrocarbons and inerts, including wet mineral gas, dry mineral gas, gas produced in association with Crude Oil and residue gas remaining after the extraction of liquid hydrocarbons from wet gas, but not including Crude Oil; "Oil Revenue Law" means the oil revenue law of the State, Law No. 8/2004 of the 30th of December, as amended, supplemented or replaced from time to time; "Operating Costs" means expenditures incurred and obligations made as determined in accordance with Article 2 of the Accounting Procedures; 6 "Parties" or "Party" means the parties or a party to this Contract; "Person" means any individual or legal entity, consortium, join venture, partnership, trust, heir, unincorporated or incorporated organization, or government or any agency or local entity, whether national or foreign, Resident or Non-Resident (as defined in the Petroleum Taxation Law) of Sao Tome and Principe; "Petroleum" means:
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Examples of Minimum Financial Commitment in a sentence

  • In no event shall any voluntary relinquishment by the Contractor over all of any part of the Contract Area reduce the Minimum Work Obligations or Minimum Financial Commitment set out in Clause 7.

  • At the signing of contract, the Minimum Financial Commitment will be set at the Tier 2 Baseline.

  • Upon receipt of Shire’s written notice, Centogene shall re-establish the suspended Services as soon as reasonably practicable and Shire shall then resume the originally agreed Minimum Financial Commitment payments.

  • However, if Centogene successfully ramps-up the alternate facility operated by Centogene within [*****] calendar days, Shire shall make the Minimum Financial Commitment under Section 3.6(a) (on a prorated basis) for such period.

  • When such Suspension Event no longer exists, the amended Target Volumes and Minimum Financial Commitment agreed pursuant to the preceding sentence of this Section 7.2 shall no longer apply and Centogene’s originally agreed Target Volumes and Shire’s obligation to make the originally agreed Minimum Financial Commitment shall revive from such moment on a pro rata basis for the respective calendar year.

  • At the signing of contract unless otherwise specified, the Minimum Financial Commitment will be set at the Tier 1 Baseline.

  • Shire shall pay to Centogene the fees for Services actually rendered until the effective date of termination, provided that in the event of termination in accordance with Section 12.3 above, Shire shall have no further obligation to make the Minimum Financial Commitment for the respective year.

  • Upon suspension of Services under Section 7.1 Shire shall not be obliged to make the Minimum Financial Commitment for as long as and to the extent that any or all Suspension Events continue to exist.

  • However, the Minimum Financial Commitment Fee for the Duration is […***…].

  • In no event shall any voluntary relinquishment by the Contractor over all or any part of the Contract Area reduce the Minimum Work Obligations or Minimum Financial Commitment set out in Clause 7.


More Definitions of Minimum Financial Commitment

Minimum Financial Commitment means: (a) in respect of the First Sub-Period, the total of the amounts set out in Articles 10.2(d) and 10.2(e); and (b) in respect of the Second Sub-Period, the amount set out in Article 10.3(b).
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